Day: August 5, 2020

Deregulating Crypto Could Spark More Speculation Says Japan’s FSA

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Ryozo Himino, the new commissioner of Japan’s Financial Services Agency, says the agency is wary of deregulating private cryptocurrencies. Noting that the COVID-19 pandemic could accelerate the transition to a cashless society, Himono instead emphasized the potential role of central bank digital currencies (CBDC) to spearhead innovation in digital payments. “Deregulating Bitcoins and other cryptocurrencies may not necessarily promote technical innovation, if doing so simply increases speculative trading,” he told reporters on Aug. 5. Japan should think “really hard” about whether to issue a CBDC Himono — whose proactive engagement…

Ripple CEO: Global Governments Now See Blockchain Solution to Addressing Transparency and Settlement

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Brad Garlinghouse, Ripple CEO, believes most governments consider blockchain technology a game-changer as it solves frictions like transparency and settlement.  Crypto skyrocketing as the dollar diminishes As a response to a Bloomberg report, he tweeted that many viewed crypto as a scam in 2019, but now the odds have changed as it is up by 80%, whereas the dollar has declined by 3%. The US dollar has been at the helm as the global reserve currency. Garlinghouse trusts that this position will not change in favor of crypto or gold,…

Tesla’s China Competitor Xpeng Motors Raised $400M Ahead Of U.S. IPO

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Xpeng Motors, a Chinese electric car manufacturer reportedly raised $400 million ahead of an initial public offering (IPO) in the United States adding onto $500 million that it raised in July. Xpeng Motors, a Chinese electric car manufacturer reportedly raised $400 million ahead of an Initial Public Offering (IPO) in the United States. Reliable sources say that the Tesla (NASDAQ: TSLA) rival was in discussions to raise $300 million. However, another investor came on board bringing the total to $400 million. This amount is an add-on to $500 million that…

Ethereum Transaction Fees Fall by 75% as Congestion Eases

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The cost of sending a transaction on Ethereum plummeted today as congestion appears to be finally clearing.  According to EthGasStation, the average gas fee on Wednesday is between 30 and 40 Gwei, with a notable 6 Gwei as the minimum to get a transaction confirmed in less than 30 minutes. This comes after a period of more than two months of elevated fees, touching at times more than 140 Gwei. Taking a standard Ether (ETH) transaction as an example, the average cost of sending it came down from about $1…

Kyber Network’s KNC Jumps 16.5% in Two Days, Eyeing a 60% Rally

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KNC, the native token of Kyber Network – an Ethereum-based decentralized exchange, surged by circa 16.5 percent in just two days. The cryptocurrency’s latest jump appeared as Bitcoin rally paused below $12,000. Meanwhile, the KNC/USD exchange rate is trending inside a technical pattern that points to a 60 percent breakout move. DeFi token KNC showed signs of a healthy recovery after plunging by almost 40 percent from its all-time high at $2.05. A 60% KNC Rally Expected The Kyber Network’s asset surged by about 16.25 percent from its session low…

Gold Price Scales to New Heights, Silver May Rise Even Higher

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Gold price has so far reached its all-time high after crossing $2,000 level easily. Despite the fast rally, analysts anticipate silver price to outperform it. Precious metals led by Gold and Silver are largely dominating 2020 best performers. Gold price has scaled to new heights after breaking out of 2011 ATH around $1922 per OZ. At the time of reporting, the instrument was trading around $2034 per OZ. Gold is largely regarded as a safe haven and a hedge factor against falling economies. With the world struggling to fight the…

Phil Schiller Steps Down and Joins Apple Fellow

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Apple Inc (NASDAQ: AAPL) announced on Tuesday that its longtime marketing leader, Phil Schiller has stepped down and joined Apple Fellow. Schiller is being replaced by Greg Joswiak, a longtime leader within the Product Marketing organization. Apple Inc (NASDAQ: AAPL) through its official communication channel announced on Tuesday that its longtime market leader, Phil Schiller has stepped down and joined Apple Fellow. In his new role, Schiller will continue to lead the App Store and Apple Events. According to the company, Schiller will be replaced by Greg Joswiak who has been…

BTCU Team Attends Ritossa’s Global Investment Summit of Family Offices

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On July 28-30, Monaco hosted the 11th Global Family Office Investment Summit under the high patronage of His Serene Highness Prince Albert II of Monaco. The Ritossa’s Family Office Summit, organized by Sir Anthony, was recognized as the largest of its kind, bringing together investors with wealth over $ 4.5 trillion. The summit was aimed at discussing alternative investments and the impact of family office investments on human well-being. The main topic of the summit was the discussion of alternative sustainable investments that would help preserve capital during volatile market…

After Ripping Past $3, Analysts Think Tezos (XTZ) Has Room to Rally

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Like Chainlink and other altcoins, Tezos (XTZ) has done extremely well over recent days despite the weekend’s flash crash. On Tuesday, the popular cryptocurrency was up more than 9% on the day at one point, holding above the critical $3.00 level. Analysts say that the asset is primed to head even higher in the days ahead despite uncertainty around the Bitcoin price. At its current price of $3.20, the asset is nearly trading at highs not seen near the top of the February blow-off top for the cryptocurrency market. Related…

Microsoft Uses Cloud to Bring Netflix for Games Service

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Using the power of cloud computing in a $150 billion industry, Microsoft has unveiled a Netflix-styled Cloud Games to be launched on September 15. With cloud services responsible for driving Microsoft Corporation (NASDAQ: MSFT) fourth-quarter earnings, the tech giant is harnessing its cloud capabilities to launch Netflix-styled subscription games. The cloud gaming service will be integrated with the Xbox Game Pass app from Sept. 15. At launch, subscribers would be able to choose from at least a hundred games including Halo 5, Grounded, Destiny 2 and Gears of War 5…